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Describe why businesses study consumer behavior

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Reference no: EM131215579

In a 3-page paper, address these points:

  • Describe why businesses study consumer behavior.
  • Using one past major purchase you have been involved in (for example, an appliance, a house or car, or your education), describe the process using the five stages that people go through in the buying process.
  • Explain how the degree of involvement impacts the purchase process decision. Include what your degree of involvement was for the product in the previous step.

When a customer continually returns to a given company because of satisfaction, we call that customer loyalty. In your paper, also include the following:

  • What does customer loyalty mean to you?
  • Compare and contrast customer loyalty and customer satisfaction.
  • Think back to your own personal experiences with customer loyalty. Explain one situation that really stands out. What makes you loyal to that company, product, service, etc.?

Reference no: EM131215579

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